Melqart Asset Management UK Ltd Increases Position in Eli Lilly and Company (NYSE:LLY)

Melqart Asset Management UK Ltd boosted its holdings in Eli Lilly and Company (NYSE:LLY) by 139.8% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 9,733 shares of the company’s stock after buying an additional 5,675 shares during the period. Melqart Asset Management UK Ltd’s holdings in Eli Lilly and Company were worth $8,623,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Chesley Taft & Associates LLC grew its stake in Eli Lilly and Company by 5.4% during the second quarter. Chesley Taft & Associates LLC now owns 22,553 shares of the company’s stock valued at $20,419,000 after acquiring an additional 1,163 shares in the last quarter. OMNI 360 Wealth Inc. bought a new position in Eli Lilly and Company during the second quarter valued at approximately $239,000. Long Run Wealth Advisors LLC purchased a new position in Eli Lilly and Company during the 2nd quarter valued at approximately $209,000. Essex Financial Services Inc. raised its holdings in shares of Eli Lilly and Company by 5.8% during the 2nd quarter. Essex Financial Services Inc. now owns 28,183 shares of the company’s stock worth $25,517,000 after acquiring an additional 1,556 shares in the last quarter. Finally, Sitrin Capital Management LLC purchased a new position in shares of Eli Lilly and Company in the second quarter valued at $5,986,000. 82.53% of the stock is owned by institutional investors.

Insider Activity at Eli Lilly and Company

In related news, CAO Donald A. Zakrowski sold 900 shares of Eli Lilly and Company stock in a transaction dated Friday, November 8th. The stock was sold at an average price of $803.38, for a total value of $723,042.00. Following the completion of the transaction, the chief accounting officer now owns 5,480 shares in the company, valued at $4,402,522.40. The trade was a 14.11 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.13% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several brokerages have weighed in on LLY. Wells Fargo & Company boosted their price objective on Eli Lilly and Company from $875.00 to $1,000.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Berenberg Bank upped their price target on shares of Eli Lilly and Company from $1,000.00 to $1,050.00 and gave the stock a “buy” rating in a report on Wednesday, August 14th. Sanford C. Bernstein initiated coverage on shares of Eli Lilly and Company in a research note on Thursday, October 17th. They issued an “outperform” rating and a $1,100.00 target price on the stock. Wolfe Research initiated coverage on shares of Eli Lilly and Company in a research note on Friday, November 15th. They set an “outperform” rating and a $1,000.00 price target for the company. Finally, Truist Financial increased their price objective on Eli Lilly and Company from $1,000.00 to $1,033.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Four research analysts have rated the stock with a hold rating and seventeen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,007.94.

Eli Lilly and Company Trading Up 1.7 %

NYSE LLY opened at $813.33 on Wednesday. Eli Lilly and Company has a 12-month low of $561.65 and a 12-month high of $972.53. The company has a fifty day simple moving average of $847.28 and a two-hundred day simple moving average of $871.36. The company has a current ratio of 1.27, a quick ratio of 0.97 and a debt-to-equity ratio of 2.03. The stock has a market cap of $772.11 billion, a P/E ratio of 87.93, a P/E/G ratio of 3.03 and a beta of 0.41.

Eli Lilly and Company (NYSE:LLY) last issued its quarterly earnings results on Wednesday, October 30th. The company reported $1.18 EPS for the quarter, missing analysts’ consensus estimates of $1.52 by ($0.34). Eli Lilly and Company had a return on equity of 71.08% and a net margin of 20.48%. The firm had revenue of $11.44 billion for the quarter, compared to analyst estimates of $12.09 billion. During the same period in the prior year, the firm posted $0.10 EPS. The business’s revenue was up 20.4% compared to the same quarter last year. On average, analysts forecast that Eli Lilly and Company will post 13.2 earnings per share for the current year.

Eli Lilly and Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Investors of record on Friday, November 15th will be issued a dividend of $1.30 per share. This represents a $5.20 annualized dividend and a yield of 0.64%. The ex-dividend date is Friday, November 15th. Eli Lilly and Company’s dividend payout ratio (DPR) is 56.22%.

Eli Lilly and Company Profile

Eli Lilly and Company discovers, develops, and markets human pharmaceuticals worldwide. The company offers Basaglar, Humalog, Humalog Mix 75/25, Humalog U-100, Humalog U-200, Humalog Mix 50/50, insulin lispro, insulin lispro protamine, insulin lispro mix 75/25, Humulin, Humulin 70/30, Humulin N, Humulin R, and Humulin U-500 for diabetes; Jardiance, Mounjaro, and Trulicity for type 2 diabetes; and Zepbound for obesity.